Operation of sections 7, 8 and 9
10 Operation of sections 7, 8 and 9
The operation of sections 7, 8 and 9 is not to be regarded—
as a breach of contract or confidence or otherwise as a civil wrong; or
as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, contractual rights and obligations, or liabilities; or
as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, contractual right or obligation, or liability.
The operation of section 7, 8 or 9 is not to be regarded as an event of default under any contract or other instrument.
No attornment to the Development Corporation by a lessee from the Corporation is required.
This Act’s bill:Second reading speech
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